Stocks - which have wobbled in August as rising bond yields threatened to dull the allure of equities - were little changed with the S&P 500 up 0.22%.
REVIVING RECESSION WORRIESSome investors were worried that higher rates could weigh on growth and increase the chances of a recession next year.
Such a scenario, in theory, would force the Fed to cut rates, pulling bond yields lower.
But while risks remained that long-term bond yields could move higher, he was looking to extend the duration of his portfolio.
Reporting by Davide Barbuscia and David Randall; Editing by Ira Iosebashvili and Andrea RicciOur Standards: The Thomson Reuters Trust Principles.
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Jerome Powell, John Williams, Ann Saphir, Powell, ”, Cindy Beaulieu, Jackson, “ Powell, Anders Persson, Mike Sewell, Rowe Price, Josh Emanuel, Davide Barbuscia, David Randall, Ira Iosebashvili, Andrea Ricci
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